APMEX Raising price per oz?

6 posts / 0 new
Last post
SILVERHUNTER
SILVERHUNTER's picture
Offline
Joined: 08/31/2011
Hat Tips: 6
Posts: 14
APMEX Raising price per oz?

APMEX has actually raised their prices over spot on silver bars in the past 24 hours as the spot price has tanked and demand has increased. Isn't that price gouging? 

Edited by admin on 11/08/2014 - 06:13
Brotha Bob
Brotha Bob's picture
Offline
Joined: 06/15/2011
Hat Tips: 800
Posts: 179
No

No, that's is supply and demand. Other dealers (Sprott) have said they are running out of phyzz.

There is a difference between the spot, bullion and futures market. What you are seeing is the brakedown of the relationship between those markets.

I think the bullion market will provide a floor to Silver soon. The lower the price goes the higher the demand for phyzz will become. Also, with the margin hikes, the CME is turning the futures market into a cash basis market.

This is the middle innings to the expected short squeeze. As physical demand increases and price moves higher, the more pressure for the futures prices to rise.

__________________

May God Help Us All

But, what do I know?

Jrandom
Jrandom's picture
Offline
Joined: 09/05/2011
Hat Tips: 28
Posts: 19
APMEX

I used to buy from APMEX, but after they moved into their "Mini-Fort Knox" their prices aren't as competitive.  Which is too bad.  When I do my price shopping, they are always on the high end.

bern
bern's picture
Offline
Joined: 06/27/2011
Hat Tips: 1221
Posts: 265
Which bars did you notice the

Which bars did you notice the spot/premium increase on?  100oz bars?

__________________

Liberty Library ~ PM Bug

Gramp
Gramp's picture
Offline
Joined: 06/14/2011
Hat Tips: 5287
Posts: 942
Apmex Shipping

Changing the premiums on the products is one thing,  but prior to the price spike in April APMEX was charging i think $19.95 for shipping, then as prices climbed their shipping charge moved to around $24.95. I figured the shipping would stay there, but no, after the May Day massacre it returned to the former $19.95. 

NBD but not cool either, they would argue increased demand= higher shipping cost, but wouldn't they also tell you demand is "soaring" at these lower price levels? don't see the shipping going up yet... (sarc)

Almost can make a connection to short term price moves of Au/Ag by watching APMEX tinker w/ their pricing.

__________________

~ Even a dead Fish can go with the flow ~

tread_w_care
tread_w_care's picture
Offline
Joined: 06/14/2011
Hat Tips: 3056
Posts: 362
APMEX is known to manipulate the "spot" price they advertise

By manipulate I mean post whatever TF price they think they want to up there, it is not a reflection of true spot.

We have discussed it here, I even had an order in over a weekend, noticed what they are doing, went ape and had it canceled.

There was speculation that when the current CEO of APMEX took over (from Goldline?? maybe) that things would go downhill.  They have.

Now I'm hearing Gainesville is blowing it too, just check their thread.  We're running out of small order size dealers worth a crap.  For me, might try Provident.

__________________

"When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it." - Frederic Bastiat http://en.wikiquote.org/wiki/Fr%C3%A9d%C3%A9ric_Bastiat

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "APMEX Raising price per oz?"